The troubled electric car maker Faraday Future has signed a lease for a new manufacturing facility in order to keep its promise of delivering its electric vehicle by end of next year. This decision comes after the American start-up shelved their plans of setting up their own $1 billion-worth facility in Nevada after its Chinese billionaire patron withdrew support a few months ago.
The turnkey facility Faraday Future has moved into is a one-million square-foot plant situated in Hanford, California. The new facility is strategically located between the country’s two largest EV markets – Los Angeles and Silicon Valley, boasts the electric carmaker. The facility is owned by Italian tyre maker, Pirelli.
The current tenants will move out in late November and Faraday Future will start the process of site preparations including planning, refurbishment, and permitting. Come next year, Faraday Future will employ 1,300 workers over three shifts to produce its first batch of FF91 electric crossovers. Faraday plans to increase the production to 10,000 cars per annum and hire 1,300 employees by 2019.
Commenting on the occasion of leasing the new facility, Stefan Krause, COO/CFO, Faraday Future, said, “We know there is a lot of work and risks ahead, but this event represents a major step forward for the company. Investors invest in people, and our employees continue to be Faraday Future’s strongest asset. As we begin this next phase in our company’s history, our efforts to build out strong corporate leadership will bring a new focus to Faraday Future and deliver on our commitments to employees, investors, suppliers, and future users, who have shown exceptional patience and resilience through the company’s difficult times.”
The California-based electric carmaker showcased the new FF91 at the 2017 CES Expo earlier this year. The FF91 is an electric autonomous vehicle aimed to take on the likes of Tesla Model X. It also did an impressive run at the 2017 Pikes Peaks Hill Climb. The carmaker has been facing many financial troubles and various lawsuits since its establishment; the current being a deficit of $1 billion to develop and build the FF91 which the carmaker is seeking an investor for.